Hindustan Petroleum Corp

Indian Oil, Hindustan Petroleum, and Bharat Petroleum are negotiating with Brazilian energy major Petrobras to secure long-term crude oil supply contracts to diversify its energy sources

Even after reduction, discounts on Russian crude oil may be contributing $1.5 to $2.5 a barrel to refiners' gross refining margins

State-run ISPRL has been selling from the caverns to local refiners after a change in the government rules in 2021

IOC is likely to trade on a bullish note as long as the stock sustains above Rs 165, suggests the daily chart.

Drop in crude oil prices and a bumper profit in Q2 has fuelled the rally so far in oil marketing companies.

Hindustan Petroleum Corporation Ltd (HPCL) will stop buying diesel from companies like Reliance Industries Ltd and Nayara Energy once it completes expansion of its Visakhapatnam refinery in Andhra Pradesh and builds a new one in Rajasthan next financial year, company officials said. HPCL owns almost a quarter of petrol pumps in the country but does not have commensurate oil refining capacity to produce petrol and diesel. So to make up for this, it buys products from refiners such as Mangalore Refinery and Petrochemicals Ltd (MRPL), Reliance Industries' Jamanagar units in Gujarat and Nayara's Vadinar refinery. At an investor call post announcing second quarter earnings, HPCL chairman Pushp Kumar Joshi says the firm's focus on capital spending in the last five years in "strengthening quality and capacity" of assets has "started yielding results now". The company has already expanded its Mumbai refinery capacity to 9.5 million tonnes per annum from 7.5 million tonnes and would complete

In Q2, HPCL logged a consolidated net of Rs 5,827 crore, compared to a loss of Rs 2,476 crore in year ago quarter. Revenue, however, dipped 9.7 per cent YoY to Rs 1.02 lakh crore.

Vizag refinery will operate at 13.5 mtpa capacity in the current fiscal year and at full capacity of 15 mtpa in the next fiscal, Bharathan said

HPCL aims to commission the terminal, with a planned capacity of 5 million metric tons per year (tpy) in the December quarter, K Sreenivasa Rao told reporters at an event

HPCL's co-branded service centres will be located at its select retail outlets in metros and other major cities across India

According to the technical analyst from Anand Rathi, Hind Petro can surge to Rs 278; while SAIL can advance to Rs 97.

The company blamed depressed marketing margins on motor fuels and LPG as the main reason for its profitability being impacted over the latest quarter

India has about 84,600 fuel retail outlets, of which 8,900 offer alternative fuels such as CNG, auto LPG or EV charging facilities

HPCL and Honda Power Pack Energy India Pvt Ltd, a subsidiary of Honda Motor Co Ltd (Honda), launched their first 'e:swap' station at HPCL's petrol pump in Bengaluru on August 6, the firm said.

Petrol and diesel prices are down by $40-50 per barrel from month-ago levels

Indian companies are snapping up Russian oil as it is available at a deep discount after some companies and countries shunned purchases from Moscow due to sanctions against Russia

State-controlled fuel retailers in India, which is the world's third-biggest consumer and importer of oil, will raise petrol and diesel pump prices for the first time since November

India's three state-run fuel retailers - Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp - dominate fuel retailing in India, and tend to move their prices together

Sales of gasoil, which account for about two-fifths of India's overall refined fuel consumption, are directly linked to industrial activity in Asia's third-largest economy

According to Mehul Kothari of Anand Rathi, traders can accumulate V-Guard Industries share in the range of 222 - 218 with a stop loss of 210 for an upside target of 236 in coming 1 - 2 weeks.